Di Giovanni, Julian; Levchenko, Andrei A. - 2009
February 25, 2009
Recent RSIE Discussion Papers are available on the World Wide Web at:
http … properties of the model
calibrated to data for the 50 largest economies in the world. Our simulation exercise shows
that the … one-third of world GDP, international trade
increases volatility by about 3.5%. By contrast, trade increases aggregate …